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Binance Hack Drives Smaller DeFi Outflows Than Kelp Exploit, Sentora Finds
Research shared by Sentora indicates that the $6.36 billion Binance hack has produced a smaller and shorter wave of withdrawals across DeFi lending markets than the $292 million Kelp DAO exploit in April.
Comparison with the Kelp DAO exploit
According to findings shared by Sentora, the withdrawal wave following the Binance hack has been less pronounced and shorter-lived across decentralised finance lending markets than the one that followed Kelp DAO's exploit in April, which involved $292 million.
The report was relayed by crypto.news, which is the only outlet cited for the findings.
Background on Binance
Binance is a cryptocurrency exchange and finance company based in the United Arab Emirates. It was founded in 2017.
Open questions
- How much of the withdrawal difference reflects the size and nature of each incident?